IFC, FMO announce loan to support South Africa’s blueberry industry, protect jobs and exports
A loan from IFC, a member of the World Bank Group, and the Dutch entrepreneurial development bank (FMO) to United Exports Ltd. announced today will help support growth, exports, and jobs in South Africa’s blueberry industry.
The €3 million loan includes €1.5 million from IFC and a €1.5 million B loan from FMO. The financing will support United Exports’ ongoing capital expenditure projects and help maintain local farmers’ access to markets and employment. United Exports produces, packages and ships blueberries under its proprietary OZblu brand within South Africa and exports roughly 90 percent of its output to markets outside Africa.
A loan from IFC, a member of the World Bank Group, and the Dutch Entrepreneurial Development Bank FMO, announced a loan to support growth, exports, and jobs in South Africa s blueberry industry.
The €3 million loan includes €1.5 million from IFC and a €1.5 million B loan from FMO. The financing will support United Exports ongoing capital expenditure projects and help maintain local farmers access to markets and employment. United Exports produces, packages and ships blueberries under its proprietary OZblu brand within South Africa and exports roughly 90 percent of its output to markets outside Africa.
The company employs around 3,800 permanent and seasonal workers. Since the COVID-19 outbreak, United Exports has put in place extensive social distancing and PPE protocols and facilities to protect its employees, while investing to maintain growth and jobs in the sector.